Oklahoma SB88 allows the Board of Trustees to approve cost-of-living adjustments for certain retirees under specific conditions.
Oklahoma SB88 amends the Teachers' Retirement System to allow the Board of Trustees to approve a cost-of-living adjustment for certain retirees. This adjustment can only be approved if the System's funded ratio exceeds a certain percentage, as determined by the latest annual actuarial valuation. The adjustment cannot be granted if it would cause the funding ratio to drop below the percentage that authorized the most recent actuarial valuation. The bill also updates statutory language and makes it gender-neutral.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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